Anyone on the fence about purchasing a residence should know that now is the ideal time to buy in Miami, according to Henry Torres, President and CEO of Merrick Manor developer The Astor Companies.
As Torres explains, interest rates will only rise in 2019. In Miami, existing inventory continues to sell and with no new developments being launched, buyers will have fewer options in the year ahead.
“We will see a market with more certainty in 2019,” Torres said. “Many would-be luxury residential buyers are taking their time making decisions right now because they know it is a buyer’s market but have unrealistic expectations about pricing coming down. A lot of these individuals are going to realize that now is an opportune time to buy.”
Astor is nearing completion of Merrick Manor, a 10-story, 227-residence luxury project in the heart of Coral Gables.
Torres added that the buyer pool “should start to diversify in 2019.” A predominantly local and domestic market will broaden to include the return of key international buyers from countries like Brazil, Mexico and Colombia. The anticipated elections in those nations are now in the past, which is a benefit for the Miami market.
Located at 301 Altara Ave., Coral Gables, FL 33146, Merrick Manor is just steps away from the luxurious Shops at Merrick Park. Construction of Merrick Manor will be completed during the first quarter of 2019.
For more information, contact the ONE Sotheby’s International Realty sales team. To take a virtual tour of one of Merrick Manor’s model residences, visit the project’s YouTube channel.
For other information about the residences at Merrick Manor, call (305) 779-6870 or visit the project Sales Gallery at 4200 Laguna Street, which is located directly across the street from the project site.
For commercial and retail opportunities available at Merrick Manor, contact Roza H. Radkiewicz of Astor Real Estate Group at (305) 779-5672 or (786) 218-8322 or email firstname.lastname@example.org.